Georgia man got COVID relief loan — and spent $57,000 of it on Pokemon card, feds say
A man in Georgia used more than two-thirds of his COVID-19 relief loan to pay for a Pokemon card, according to federal prosecutors.
Vinath Oudomsine was charged by criminal information on Tuesday with one count of wire fraud after the government said he lied about how many employees he had and the revenue his business generated in an application for an Economic Injury Disaster Loan, or EIDL, during the pandemic.
The charge carries a maximum sentence of up to 20 years in federal prison and $250,000 in fines, though the actual sentence is usually far less.
Oudomsine, who is from Dublin, Georgia, could not be reached for comment on Friday. Defense attorneys representing him declined to comment in a statement to McClatchy News.
Dublin is about 54 miles southeast of Macon.
Congress passed the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, in March 2020, which expanded eligibility and waived certain requirements for businesses applying to the Economic Injury Disaster Loan program.
The funds were meant to be used as working capital or for normal operating expenses, such as rent and utilities. But unlike Paycheck Protection Plan loans, EIDLs are not eligible for forgiveness.
According to the charges filed in the Southern District of Georgia, Oudomsine submitted an application for an EIDL in July 2020 on behalf a business he said has been in operation since 2018. The application stated that his business had 10 employees and gross revenue of $235,000 over 12 months.
As a result, prosecutors said, the Small Business Administration awarded Oudomsine an $85,000 loan on Aug. 4.
But five months later, Oudomsine used a large chunk of the funds to buy a Pokemon card for $57,789, prosecutors said. It wasn’t clear in court filings which Pokemon card Oudomsine is accused of purchasing, but certain rare and valuable Pokemon cards can sell for thousands of dollars.
The 2002 Pokemon World Championships No. 1 Trainer card was sold in April for $31,200, Dice Breaker reported, and a 1999 Pokemon Japanese Promo Tropical Mega Battle Tropical Wind sold for $65,100 in October 2020.
Extremely rare cards such as the Pikachu Illustrator have sold for as much as $195,000, according to the media site.
This story was originally published October 22, 2021 at 12:54 PM with the headline "Georgia man got COVID relief loan — and spent $57,000 of it on Pokemon card, feds say."
